\n| Is it good to increase home loan tenure?<\/b><\/p>\n Choosing to extend the term would result in a higher interest expense than increasing the EMI.<\/span><\/td>\n<\/tr>\n\n| Should I take a home loan for the long term or the short term?<\/b><\/p>\n It would be wiser to choose a short-term house loan if you wanted to buy the property with the intention of investing in it.<\/span><\/td>\n<\/tr>\n\n| Is it better to increase EMI or prepayment?<\/b><\/p>\n Higher EMIs do enable significant cost savings. This will you to close the loan before the tenure.\u00a0<\/span><\/td>\n<\/tr>\n\n| Does prepayment reduce EMI?<\/b><\/p>\n No, it really doesn’t. Many borrowers mistakenly believe that partial prepayments lower your EMI. There isn’t. The primary component as well as the interest component make up your EMI.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n","protected":false},"excerpt":{"rendered":" What is Home Loan Tenure? The term “Tenure” of a loan refers to the length of time it will take to pay back in full.\u00a0 The maximum loan term is determined by a number of variables, such as age, the amount of time until retirement, monthly expenses, monthly income, etc.\u00a0 The maximum house loan term […]<\/p>\n","protected":false},"author":11,"featured_media":17862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[195,1969,1973,1972,1970,1971],"class_list":["post-10112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-loan","tag-home-loan","tag-home-loan-tenure","tag-home-loan-tenure-calculation","tag-home-loan-tenure-calculator","tag-long-term-tenure","tag-short-term-tenure"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/10112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/comments?post=10112"}],"version-history":[{"count":9,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/10112\/revisions"}],"predecessor-version":[{"id":18692,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/10112\/revisions\/18692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media\/17862"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media?parent=10112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/categories?post=10112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/tags?post=10112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | |
![\"What](\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/01\/23124516\/What-is-Home-Loan-Tenure.jpg\")
<\/p>\n![\"Difference](\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/01\/23124612\/Difference-Between-Short-term-and-Long-term-tenure-for-a-home-loan.jpg\")
<\/p>\n![\"Factors](\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/01\/23124718\/Factors-Influence-Home-Loan-Tenure.jpg\")
<\/p>\n![\"Home](\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/01\/23124758\/Type-of-employment.png\")
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